Millions In Debt…Lisa Marie Racks Up $400K More

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Millions In Debt…Lisa Marie Racks Up $400K More | Classic Country Music Videos

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The 51-year-old mother of four and daughter to the late Elvis Presley has seemingly gotten herself into a bit of trouble…and not just her bitter divorce against soon-to-be-ex-husband Michael Lockwood.

Over the last couple of years, a string of headlines have come out after Lisa Marie Presley filed legal documents during the split from Lockwood. Much of it has been caused by his demand for spousal support and etc., but she also filed a lawsuit against her ex-manager saying he was responsible for leaving her with nothing.

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She claims he mismanaged her trust and claims she’s more than $16 million in debt – which is why she will not be able to pay Lockwood’s demands for his legal fees that exceed $450K.

In Presley’s suit, TMZ reports, she is pointing the finger of blame at former manager Barry Siegel for poor management of her trust fund and failing to warn her of the financial crisis she was quickly spending her way into.

She claims that the trust fund already had two mortgages that weren’t being kept up, but Siegel didn’t say anything when she went to purchase that fancy $9 million English homestead.

Other legal documents from the divorce show that the $16 million debt load comes from unpaid taxes ($10 million) and the rest is credit card bills and unpaid attorney’s fees.

So, now in 2019 – Lisa Marie’s estimated net worth stands at a (negative) -$16 million after her statements to the court regarding her financial situation.

But, that’s not even the whole story…

A new report from The Blast on Yahoo! Entertainment explains that the State of California Franchise Tax Board has filed a lien against the Presley heiress and claims that from 2016 and 2017 – she owes nearly half-a-million dollars in back taxes.

The total sum comes to $402,432.01, but it will likely rise due to interest and penalties.

Watch the video below about her initial claim that she was in debt to the tune of $16 million…now it’s probably a LOT closer to $17 million +.

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